Anand ‘Lucci’ Sanghvi had absolutely no trading knowledge when he walked through the doors of a prop firm in 2006. He banged keys for a couple of years until the firm shut down during the GFC. Quickly getting $50,000 he was able to compound it to $2,400,000 within two years.
He shares his story in a lot of detail during the interview. He also really opens up about some of the hard lessons he has to learn along the way, so you need to pay extra close attention.
What’s Covered in This Interview:
- How Lucci was able to stop the cycle where he kept making big gains one month and losing all of it the next.
- The story of how Anad created Sang Lucci and its hedge fund including how they were able to bring Haim Bodek (HFT whistleblower) onto their team.
- How Lucci is able to find an edge in the market by using tape reading, and disregarding all other indicators except a few key price levels.
- The dangers of being fixated on making a certain dollar value. After all, the trade doesn’t care how much money you make or lose.
- Lucci’s opinion on some of the biggest flaws of human trading.
- How things can change when traders begin to accumulate wealth which includes people you know and their actions.
- The best psychology tips Lucci’s accumulated over the years that he wishes someone had told him when he was a beginner,
- Why it’s essential to know what you want from life, and it’s not just about money.
Links and resources mentioned:
- Dark Pools by Scott Paterson – Lucci recommends this book to traders who want to understanding the impact of computerized trading better and market structures, available on Amazon.
- The Wall Street Code – This documentary dives into the world of high frequency trading where the Sang Lucci team make an appearance.
- sanglucci.com – Learn more about Lucci over at his website.
- @SangLucci – Follow Lucci on Twitter.